FY26 PIMS Peer Review on Plan Sponsor Health
Closed Solicitation Posted
- Solicitation number
- 16PBGC26Q0037
- Responses due
- Set-aside
- No set-aside
Opportunity facts
- NAICS code
- 541990 All Other Professional, Scientific, and Technical Services
- PSC
- B599 Special Studies/Analysis- Other
- Place of performance
- Washington, District of Columbia 20024, United States
- Points of contact
Notice details come from SAM.gov. Updated .
About this opportunity
The Pension Benefit Guaranty Corporation seeks a qualified, independent contractor to conduct a targeted peer review of the assumptions and methods used by its Single-Employer (SE) and Multiemployer (ME) Pension Insurance Modeling Systems (PIMS), with quotations due August 20, 2026 at 2:00 PM Eastern Time. This is a fixed-price engagement with no set-aside category.
The contract is anticipated at $19.5 million with a seven-month period of performance from September 28, 2026 through April 27, 2027. Place of performance is Washington, DC 20024, with work conducted remotely. The NAICS code is 541990 (All Other Professional, Scientific, and Technical Services); PSC code is B599 (Special Studies/Analysis—Other). SAM registration must be active at submission.
The scope encompasses six major task areas: three specific to the SE model (credit rating transition framework, economic condition correlations, variable selection analysis, initial rating methodology, distribution analysis, and claim generation assumptions); three specific to the ME model (contribution and withdrawal liability modeling, systemically important employer identification, withdrawal liability rules analysis, 20-year historical analysis, and withdrawal liability income assumptions); and three applicable to both models (additional financial health data identification, stress testing assessment, Actuarial Standards of Practice compliance review, and industry best practice recommendations).
Key personnel must demonstrate expertise in single-employer pension plans, multiemployer pension plans, and 15 or more years of statistical, econometric, or stochastic modeling experience including credit and default modeling. Deliverables include bi-weekly meetings, initial and final board briefings, draft and final reports (no more than five revisions each), and a final presentation to board representatives. Evaluation is based on management approach and corporate experience; price determines award only if offerors are technically equivalent. Quotations are submitted in two volumes: Technical (maximum 20 pages) and Price.
Notice text
The Moving Ahead for Progress in the 21st Century Act (MAP-21, Pub. L. No. 112-141) was enacted on July 6, 2012. Section 40233(a) of MAP-21 requires the Pension Benefit Guaranty Corporation (PBGC) to contract with a capable agency or organization that is independent of PBGC, to conduct annual peer reviews of the Single-Employer (SE) Pension Insurance Modeling System (PIMS) and Multiemployer (ME) PIMS. In practice, comprehensive reviews are conducted at least once every 5 years with targeted, more limited, reviews conducted in interim years. The focus of this Statement of Objectives (SOO) is a targeted review of SE PIMS and ME PIMS to be conducted in 2026-2027.
The PIMS models are used to develop PBGC’s annual Projections Report, a 10-year projection of the financial position of each of PBGC’s two insurance programs – the Single-Employer Program and the Multiemployer Program, and a long-term (40-year) evaluation of the solvency of the Multiemployer Program. PBGC also uses these forecasting models to analyze the potential effects of legislative proposals that impact private sector defined benefit plans and the insurance programs, as well as for additional budgeting and analysis internal to PBGC.
PBGC has deployed a new, modernized version of the SE PIMS model, which utilizes some alternative modeling assumptions and methods. As part of this deployment, PBGC constructed a new economic scenario generator; the resulting economic scenarios are used in both the SE PIMS and ME PIMS models. This targeted review covers the current versions of the SE PIMS model and the ME PIMS model; it does not cover the prior Legacy version of SE PIMS.
PBGC’s Board is seeking a qualified Contractor to perform a targeted peer review of the assumptions and methods used by the PIMS models to incorporate the financial health of plan sponsors in the projections. The remainder of this document sets forth PBGC’s specific expectations, while noting that PBGC would also welcome suggested refinements, based on the Contractor’s depth of experience and expertise in modeling defined benefit pension plans. PBGC will entertain proposed sub-contracting by the Contractor as needed to best accomplish the review.
Files
| File | Type | Posted |
|---|---|---|
| 16PBGC26Q0037.pdf |
Similar open opportunities
| Opportunity | Agency | Set-aside | Responses due |
|---|---|---|---|
| Super Intelligence Program Support Services (SIPSS) | Pension Benefit Guaranty Corporation | No set-aside |
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